Thank you.
All right, let's rock and roll and welcome in our 3rd guest here to taking stock.
This is Rick Harrow.
He is the CEO of Haro Sports Ventures joining us via Zoom.
Rick, it's really nice to have you join us on this Monday afternoon.
You've done a lot of deals at the intersection of sports and venture capital.
Talk to me first and foremost about a few of the top trends that you are seeing in that landscape today.
Well, the first landscape issue is how do we deal with the war and how do we deal with the uncertainty.
You know, there is $2.6 trillion invested in the sports business.
At the end of the day, it has increased double over time.
It's one of the most exciting and most protected area of business, specifically in the Middle East.
When you think about it, you have a growing market of about 9%.
Saudi Arabia hosting the 2034 World Cup.
Qatar has a business called BN Sports with 43% poor countries, as well as the infrastructure.
So this is a good example of a strategy that basically transcends some of the horrendous stuff that is happening in the Middle East now, and it's growing effectively because of sports infrastructure.
Qatar, of course, has also previously hosted the World Cup.
To your point, Has confidence in the region become shaky since the start of the conflict involving Iran, Israel, and throughout the Middle East?
And if so, what most needs to be done right now to encourage further confidence in the region?
Well, conference confidence means stability and it means economic impact.
When you think about it, the Saudis have invested billions in planning for 2034.
They're planning live golf investments.
Formula One WWE on the UAE side, obviously they put $15 billion into sports infrastructure as well.
Dubai has 20 million visitors overnight, as well as the hotel bookings.
They've got to preserve their infrastructure.
And as far as Qatar is concerned, the Doha World Cup was a rousing success.
They spent $220 billion in World Cup infrastructure.
And even though, as you asked, in the future, there are Issues of uncertainty.
You've got the World Cup hosting rights for Qatar.
You've got Abu Dhabi Grand Prix.
You've got the PIF sports portfolio for Saudi Arabia.
You've got the stake in Monumental Sports that Qatar bought a 5% stake in an American company.
And you also have a long-term sports strategy plan.
The point is that you have infrastructure and media rights that transcend momentary disruption as bad as that disruption is.
All right, Rick Harrow, CEO of Haro Sports Ventures.
Perhaps we get much more clarity on that expected timeline from the president tomorrow night.
We'll have you back, open invitation to join the show.
Rick, thank you very much.
